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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 8 z! v) }6 G W( Z o: s2 @+ h
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We must now be referred to as "Petro-Canadians."
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6 O) e5 @/ L) H2 v5 D% tWHY SELL NOW?
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( @- ?. j" q/ GIf I didn't own a house in Edmonton, I'd buy right now, with the current 10% dip in prices that have doubled in the past three years.
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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7 i) V5 \2 \7 t- S. I) l nHouse prices, with a few peaks and valleys along the way, will continue to increase. 4 z5 i2 n, V' t9 x
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We don't quite get it. 1 K, o% k% C, O6 u) L( N
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We're squat in the middle of the greatest industrial boom in the freakin' world! ' t9 p3 ?0 w- |
3 p8 ? |- a8 @: F& x8 _In the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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8 h% F" S6 h8 }1 A/ {Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 7 h. X7 A5 l2 d! C4 A
6 w: G; i) B/ E: M8 Y- M3 }Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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0 T% ^1 G. b; c* s" i! b: a' `Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. ' j& y- o: \" T$ _0 K
' c6 |- }0 M: s- `$ A T4 OEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere. . ~( Z' z5 n" F7 p
/ e, y* w1 f! L+ W) l7 DHouse prices will go nowhere but up. |
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